President Buhari has transmitted a letter to the Senate seeking the amendment of the Company and Allied Matter Act (CAMA), 1990 to domicile power of business registration with the Attorney-General.
The Senate President, Ahmed Lawan while reading the executive communication at the floor of the Senate revealed that the amendment of the Act being sought by the president will facilitate the ease of doing business improve transparency and efficiency.
The letter partly reads, “In line with Section 58 of the Constitution of the Federal Republic of Nigeria 1999 as amended and section 26(5) of the Act, I wish to seek amendment of the Companies and Allied Matters Act. ”
Accordingly, the proposed amendment of the Act would be laid for first reading at a later date in line with the lawmaker’s best practises.